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Long-term debt
3 Months Ended
Mar. 31, 2013
Long-term debt
6. Long-term debt

 

millions of dollars   

As at

Mar 31

2013

          

As at

Dec 31

2012

 

Long-term debt

     2,635            1,040   

Capital leases

     133            135   
  

 

 

       

 

 

 

Total long-term debt

     2,768            1,175   
  

 

 

       

 

 

 

In the first quarter of 2013, the company increased the amount of its existing stand-by long-term bank credit facility from $300 million to $500 million with the maturity date unchanged. The company has not drawn on the facility. Also in the first quarter, to further support the commercial paper program, the company entered into an unsecured committed bank credit facility in the amount of $250 million that matures in March 2014. The company has not drawn on this facility.

In February 2013, the company increased its long-term debt by $1,595 million by drawing on an existing facility with an affiliated company of Exxon Mobil Corporation. The majority of the increased debt was used to finance the acquisition of a 50-percent interest in Celtic’s assets and liabilities (see note 10 for further details).